Archive for the ‘buy up America’ Category

WASHINGTON: For years, the Bush administration has shrugged off concerns about the trillions of dollars that the United States owes to China, Japan and oil-producing countries in the Middle East, arguing that these debts give no undue leverage to foreign governments.

But at a time of global financial instability, the administration has started to worry.

U.S. concerns – like those of many European policy makers – focus on a growing but little understood trend of foreign governments converting their debt holdings into “sovereign investment funds” ….